How to Understand the Financial Crisis

The Lessons That Have—and Haven’t—Been Learned From 2008

The Crisis Next Time

by Carmen Reinhart and Vincent Reinhart

The world has learned a lot since the 2008 financial crash. But the tragedy is that none of these lessons are new, so history is doomed to repeat itself.

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The Forgotten History of the Financial Crisis

by Adam Tooze

The transatlantic relationship helped save the U.S. and European economies from ruin in 2008. How will today’s multipolar world cope with the next crisis?

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The Financial Crisis Is Still Empowering Far-Right Populists

by Manuel Funke, Moritz Schularick, and Christoph Trebesch

Far-right parties have historically been the biggest beneficiaries of financial crashes, but then politics swing back to normal. After the 2008 collapse, populists learned how to hold on to their power.

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Faith-Based Finance

by Gillian Tett

Just as there was in 2007, there is still a temptation to assume that culture does not matter in the era of sophisticated, digitally enabled finance. This thinking is wrong.

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The True Lessons of the Recession

by Raghuram G. Rajan

The global recession was not the kind of crisis that governments can borrow their way out of. Instead of going further into debt, countries need to address the underlying flaws in their economies.

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Are We Safe Yet?

by Timothy F. Geithner

Sooner or later, the United States will face another major financial crisis. Yet the tools policymakers have for responding are even weaker than they were before the last crash.

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Fixing Finance

by Gillian Tett

As the global financial sector has swelled, the gap between the rich and the poor has grown. How much are banks to blame for inequality, and what should the government do about it?

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